FTB, advice needed for choosing from St Albans or Finchley?

[Zuriya]

I’m a single mother living with my 11 years old daughter, currently working on buying our first home after decade of moving around, we are so excited that we could finally settling down in a place of our own to build a lovely life.

Our budget is around 1.3~1.5 million with support from my boyfriend and family. So we are extremely fortunate that we do not need a mortgage. But, as the funds are not our own, it is important that the property investment is as safe and if profitable as possible in the long run.

We are currently renting in Kingston Upon Thames, we loved it but as my daughter practices fencing (sabre) for many years now, Kingston do not have sabre school for my daughter to continue pursuing her passion. There are only 3 decent sabre schools in and around London, namely Salle Paul Fencing Club (at Hendon, NW9), Camden Fencing Club (at Fufnell Park, NW5) and Paul Davis Fencing Academy (at St Albans). So it’s left me with little choice but to relocate. That’s why I ended up in Finchley and St Albans, as both locations have less than 30 minutes commute time for my daughter to attend daily training sessions.

Also, in addition to the expensive tuition for fencing, I can't afford to pay for private school on my own, even though I have what sounds like a good budget. So accessible to good state school is a must for us. In addition, to keep up with family expenses, I may need to rent out some rooms to friends I trust.

I have been working as a designer myself, most of time I work from home and freelancing, so I don't need to commute to London very often. But I can't stay away from London because it's where all the networks and activities of our industry take place. I am also thinking about start up my own business related to tangible product development, so workshop spaces for handwork and prototyping would be really useful for me.

I'm very indecisive between these two places at the moment, after visiting on our own, asked all my friends and checked tons of comments on internet. Both of which seem nice, have their own characteristics, and similar house prices. I noticed Finchley is much more diverse than St Albans, which could be more welcoming for expats like us. However, Finchley house price, rental yield and turnover figures appear to have performed less promisingly than St Albans over the last five years.

I would really appreciate it if somebody could give me some insight to help me with the decision and remind me of aspects I've missed. Or if you have better places recommendations please do share.

Many thanks!

Why do you need rental yield if you are going to live in it? St Albans is great. Finchley is also fine for London. Do you want London or not? Hope your BF doesn’t pull the money out.

The rental yield is just to ensure it’s good investment of their money. I’ve lived in London for over 6 years in the past, it’s good for single and young people, but not sure for family.

St albans is lovely. Finchley is quite nothingy IMO

Organised crime is rife in Finchley. I don't know about St Albans.

I’m finding those two places a little bit incomparable as they are so different. I could compare Highgate, Muswell Hill or Hampstead (or Richmond if it doesn’t need to be north) to St Albans. As they all have a vibrant pretty high street, very green with close access to nature, beautiful pubs, quite posh, etc. Not sure how Finchley fits in.

I would pick St Albans over Finchley, but I’d pick most places over Finchley.

Which part of Finchley?

East finchley is close to Highgate and muswell hill and Highgate woods but rest of finchley is the other side of north circular And more suburban
Dartmouth park is near Tufnell park and nice

How about this house in Palmers Green? It’s on one of the good streets, close to the picturesque Broomfield Park:

https://www.rightmove.co.uk/properties/149562992#/?channel=RES_BUY

There was a thread about St Albans the other day where many people said that town has lost its lustre because of the cost and hassle of commuting, and many people prefer to live in outer London zones instead.

This

St Albans is still nice I think

but Finchley is very bad now. East Finchley/Highgate border might be okay but not the rest of it.

I’m actually having Finchley Central in mind at the moment, as there are direct bus and underground to fencing schools both in Hendon and Camdon.

We are in quite different economic times now so any property gains will happen long term.

If you want private school or need lodgers to keep up financially why not just not spend 1.5m on a house?

I know Wood Green is a hellhole and properties by the north circular are to be avoided. But Finchley Central seems okay and thriving, while East Finchley is positively pleasant once you’ve walked up the hill.

No?

Thanks! it’s really straightforward and right to the point way of thinking. I'm always focusing on details without considering that they are essentially very different types. Maybe it's because I'm an expat without adequate local knowledge. Many thanks for your insight, really helps me out!

The house is stunningly lovely!! Yes, I’ve been browsing through St Albans houses recently, the value for money feels very low, especially with the shabby interiors compare to the one you posted.

Why don't you ask other fencing kids ' parents where they live?

Nice points, as my sponsor is most interested in investment property, and I need a house to live in, so that our mutual interests met I guess?

I would say Finchley and St Albans property is probably on a similar trajectory if you stick to freehold.

Agree with others about East Finchley versus the other bit. If you're a designer you might find more variety with co working spaces in North London than St Albans & in general the vibe might suit you with what's going on - faster access to galleries, interesting networking etc.

I went to Art college in St Albans in the 90's & was very bored there

I wouldn't even park my car in Finchley Central.

Finchley likely a better investment as St Albans is past Covid peak while commute will continue to deteriorate.

St Albans is an excellent place to raise an 11 year old. Great schools, loads of clubs, sports centres, great cinema, theatres, parks, shops etc. Full of talented teens to get to know. Very safe to walk around and be independent.

it is expensive to buy property but demand is high.

it is more culturally diverse than you might expect. It has a lot of Europeans living here. A big Italian and Hong Kong community. The small primary school my kids went had 22 languages spoken.

there are three co working clubs that I know of (bubblehub is nice)

I agree that at root, do you want to be in London or not is the question here. Do you like the urban vibe? (Maybe not - is this why you ruled out the Camden club?) Use London amenities? Your daughter’s fencing sounds really important but as she matures - what about you? What sort of places do you enjoy? If you have 1.5 million you should be able to get something that offers that. I am a north Londoner and Muswell Hill, Crouch End, Highgate all have lots of cafes, gyms, pubs, greenery and culture access at your fingertips. Palmers Green has gorgeous houses but far far less to do. Parts of Finchley near Muswell Hill are great, but will they work for the fencing commute?

I agree, and I’m more of a countryside person than urban. The top of my personal list will be access to nature, animals, river and lakes, garden, communities with common interests. London is a great place, but usually I only go to exhibitions, events, museums and theatres. sadly allergic to alcohol, not much for me to fit in, also not so enthusiastic about shopping.

St Albans is nice - but check out Harpenden - lived there for many years and it's ever so lovely.

In your position, I'd be looking to live in Tufnell Park / Dartmouth Park (access to Highgate woods etc), but from what you said, about nature / countryside being important, St Albans (or surrounds - Harpenden could be a good shout) could also really suit you.

Sponsor?

If access to nature is that high up the list, then St Albans (or nearby Harpenden) would without question be better choices than Finchley.